Rubber Bonded Abrasive Market, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1348
Rubber Bonded Abrasive Market size may witness significant gains over the forecast timeframe. Strong application scope in transportation and electrical & electronics industry should drive product demand. Low heat transfer, hardness, toughness, uniformity, extensive usage range, long life, economical advantage are key properties of this product over other counterparts.
It is widely used for cutting and grinding small tools floor polishing, precision grinding and fabrication applications, thereby increasing steel, metal, electrical & electronics, medical, and transportation industries demand. Rubber bonded abrasives can be manufactured by using various other compounds including talc, gypsum, calcite, fluorite, apatite, quartz, topaz, corundum, aluminum oxide, silicon carbide, borazon and diamond.
Rubber bonded abrasive wheel is preferably applied in polishing and de-burring high carbon steel, precision grinding, and high temperature alloys mainly titanium, hastelloy, and Inconel which are used in automotive and aerospace industries.
Rubber bonded abrasive market is gaining importance in automobile industry on account of required surface finish and design to vehicles. Additionally, they find usage in medical sector as they are used to sharpen dental tools, which smoothen the edges.
Global industrial rubber market size generated over USD 90 billion in 2015 and may surpass USD 165 billion by 2024, with gains at over 7%. Positive application outlook in construction, automotive, and manufacturing industries should drive industry growth. Rise in motor vehicles production has led to increase in various industrial products such as hoses, belts, and gaskets.
Asia Pacific, driven by India, South Korea, Japan, and China rubber bonded abrasive market size, may grow significantly over the forecast timeframe. Asia Pacific natural rubber production was over 11 million tons in 2015. Increasing steel, metal, medical, transportation and electrical & electronics industry should contribute towards regional market growth.
North America, led by the U.S. rubber bonded abrasive market may witness significant gains by 2024. Many manufacturing companies provide products which are used for polishing and architectural glass edges.
Europe, driven by UK, France, Italy, and Germany rubber bonded abrasive market share, may account for significant gains by 2024. Most of the companies produces and provide products which are used in engineering, medical, and aerospace industries.
Rubber bonded abrasive market from medical devices may register significant gains over the forecast timeframe. Global medical devices market was valued at over USD 310 billion in 2015. Increase in utilization of medical equipment and other applications such as medical scissors, artificial joints surface polishing, and polishing medical tweezers thereby stimulating industry growth.
Rubber bonded abrasive market size from heavy industries should generate favorable growth. U.S. heavy engineering construction market size was USD 31 billion in 2015, register close to 6%. Heavy industries comprise of mechanical, electrical and construction sector such as shipbuilding, industrial robotics, heavy machinery, heavy construction equipment, railways, and heavy electrical machineries. In harsh environment, heavy industry applications affect finished metal product cost efficiency and quality. Materials such as steel bars, coiled steels, pipes, and iron casting requires durability thereby reducing grinding time and overhead & labor charges.
Global electrical equipment market may witness gains up to 9% by 2024. Implementation of smart technologies may drive electrical equipment market and influence rubber bonded abrasive market size. Shift in trend from centralized power generation to decentralized distributed power generation may favor product demand. Most of the electrical equipment and components industries are engaged in manufacturing small scale electrical products including generators, motors, storage batteries, and electric cooling and heating systems.
Aluminum oxide, silicon carbide and zirconia alumina are key raw materials used for rubber bonded abrasive process. Fluctuating raw material costs may hinder industry profitability and affect rubber bonded abrasive market price trend.
Global rubber bonded abrasive market share is fragmented. Key market players include Saint Gobain, Abrasivos Manhattan, PFERD, Schwarzhaupt, and Tyrolit Group. Other industrial participants include 3M Company, Pacer Industries, Buehler, and Crartex.
Companies are focused on enhancing their product portfolio to edge over other competitors and gain market share. Saint Gobain has developed high performance centerless grinding wheel, Norton Century 45, which is designed to improve product cost-competitiveness for large and small operations. It uses silicon carbide and aluminum oxide blends.
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